Elan names new chairman

Kyran McLaughlin is assuming the position of non-executive chairman of the board of directors at Elan Corporation, following the departure of Garo Armen who is stepping down from the post with immediate effect.

Mr McLaughlin was appointed a director of Elan in January 1998. He is also deputy chairman at Ireland’s largest stockbroker firm, Davy Stockbrokers, a director of Ryanair Holdings, and is a director of a number of other private companies. Dr Armen will remain as a member of the board of directors.

- In other news, Elan says that it has broadened its license agreement with Roche over the former’s NanoCrystal technology, providing the Swiss giant with access to the technology and the right to apply it to a number of drug candidates. In return, Elan will receive development milestones and royalties on sales of any product developed as a result of the deal.

Roche first licensed the technology, which transforms drugs into smaller particles that can be used to create more effective and convenient dosage forms, such as tablets, capsules, liquids and powders, in April last year [[21/04/04c]].